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v3.8.0.1

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended
--- | --- | ---
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016
Net sales | $ 165,957 | $ 170,124 | $ 396,706 | $ 399,099
Cost of sales | 108,769 | 111,802 | 252,780 | 257,232
Gross margin | 57,188 | 58,322 | 143,926 | 141,867
Distribution expenses | 13,495 | 14,531 | 39,510 | 40,225
Selling, general and administrative expenses | 34,088 | 33,009 | 99,572 | 94,662
Restructuring expenses | 272 |  | 526 | 1,701
Income from operations | 9,333 | 10,782 | 4,318 | 5,279
Interest expense (Note E) | (1,172) | (1,231) | (3,114) | (3,546)
Loss on early retirement of debt |  |  | (110) | (272)
Income (loss) before income taxes and equity in earnings | 8,161 | 9,551 | 1,094 | 1,461
Income tax (provision) benefit (Note I) | (3,505) | (2,961) | (863) | (218)
Equity in earnings (losses), net of taxes (Note C) | (326) | (138) | 672 | (270)
NET INCOME | $ 4,330 | $ 6,452 | $ 903 | $ 973
BASIC INCOME PER COMMON SHARE (NOTE H) | $ 0.30 | $ 0.45 | $ 0.06 | $ 0.07
DILUTED INCOME PER COMMON SHARE (NOTE H) | 0.29 | 0.44 | 0.06 | 0.07
Cash dividends declared per common share | $ 0.0425 | $ 0.0425 | $ 0.1275 | $ 0.1275

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